Home Prices Grew in August

The 20-City CoreLogic Case-Shiller Composite Index increased 5.1% year-over-year in August, up from a 5.0% July increase. The 10-City Composite index increased 4.3% annually, up from a 4.1% increase in the previous month. The National Index, which covers all nine Census divisions reported a 5.3% gain, up from 5.0% in July.

On a seasonally adjusted monthly basis, both the 10- and 20-City composites increased by 0.4% in August, while the National Index increased 0.5%.

“Supported by continued moderate economic growth, home prices extended recent gains,” says David Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “All 20 cities saw prices higher than a year earlier with 10 enjoying larger annual gains than last month.”

Monthly home prices rose in 14 of the 20 major cities covered by the index. San Francisco saw the highest gains, with prices increasing 1.0% on a seasonally adjusted basis in August. In contrast, prices in Atlanta, Chicago, Detroit and Las Vegas fell 0.1%.

Read the S&P release.

About Tim Nicholson

Tim Nicholson
Tim Nicholson is an economic research associate at ABA.
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